AARP expects Social Security benefit cut. "It's AARP's belief that at the end of the day there will be a package that affects both the benefit and the revenue side," David Certner, the group's legislative policy director, told CNNMoney. I expect the retirement age to increase, but I have no inside info.- So, Nasdaq down five weeks in a row, but the Dow and SP500 ended their six-week slide. And it’s never good when the Dow leads. Well, I think it’s “never” good. Market trends are usually lead by the Nasdaq, right?
- What a Greek default means. While Greece itself will be the hardest hit in a default, the ripple effects of such a move could rock the European banking sector to its core and even create a liquidity event not seen since the dark days of 2008. Even this loan-thing Germany is talking about is just a, well, loan. It doesn’t help Greece get out of its problems. The loan just pushes out the default date. Anyway, that’s the problem with socialism, right? There has to be some sort of private sector growth to fuel government spending.
- The Fed will release their quarterly growth, inflation, and unemployment forecast on Wednesday. Set the DVR. Chairman Ben Bernanke made that clear in early June when he said, “U.S. economic growth so far this year looks to have been slower than expected.” He also called the recovery “uneven” and “frustratingly slow.’
- Do you really need Bill Gross or his bond fund? Well…. lol.
- Green Lantern wins the Friday box office contest. $21.6 million. Maybe they should donate all proceeds to Greece.
Heading out for a bike ride…